DECATUR COUNTY – The Decatur County School Board of Trustees held its annual finance committee meeting last week following the board's reorganization meeting.
Finance Minister Melissa Leap announced the 2023 interest earned on investments from September to December. The total interest on the presented business checking account was $53,875.45 and the total interest on the TrustIN account was $52,150.68, giving her a total of $106,026.13.
“Last year, a lot of banks started stepping in as schools started moving their money elsewhere to try to get higher interest rates,” Leap said. “Trust Indiana also has some ways to invest from the state that your local bank cannot.”
The Distressed Units Appeals Committee's report was the next part of the conference's presentations. The report showed that DCCS has stable average daily membership (ADM). ADM is the student body population that determines state funding.
“In the fall of ’22, we had 1,807 students, and in the spring of ’23 we had 1,806 students, so it was very stable,” Leap said. And actually this fall's ADM is…1,806.
Fund balances as a percentage of operating expenditures, revenues by type, operating referendum revenues, fund balances, and annual deficits/surpluses were also presented. These statistics are available on the DUAB website: https://www.in.gov/duab/school-corporation-fiscal-indicators/dashboard/.
